online banking benefits
Accounts & Cards

Online Banking: How to Use It to Your Advantage

August 25, 2022 - Benjamin Manz

A full-on move to online banking can make financial sense. This moneyland.ch report looks into the pros and cons.

Online banking has been a part of the Swiss banking scene for some time. But most Swiss still make use of physical banking services – at the counter, via conventional mail or via telephone.

What many people do not know is that some banks offer discounts to customers who limit their banking activity to online banking.

The UBS private account has a standard monthly fee of 7 francs (84 francs per year), but this is reduced to 5 francs (60 francs per year) if you choose the online banking only option.

Then there are possible fees for paper statements sent by post. Nearly all Swiss banks let you avoid these fees by opting for electronic statements instead. Postage costs come to 0.85 centimes per statement for "b" post, and many banks add an administrative fee to that. If you plan to bank online only, you can specify this in the moneyland.ch bank account comparison and cost reductions will automatically be applied to comparison results.

Also pay attention to fees for over-the-counter services. Most banks do not charge fees for transfers performed online, either within Switzerland or abroad (using SEPA). However, some banks do charge you fees when you have these transfers made at a branch office.

Trading fees and charges also vary in a big way between banks. Trade orders made at a branch office or over the telephone often cost more than those made online. The moneyland.ch trading comparison uses the lower online trading fees for comparisons.

More on this topic:
Online broker comparison
Private account comparison

Request now for free

Cheap bank accounts with card

Free bank account

Yuh

  • No account fees

  • Banking partner: Swissquote & Postfinance

  • CHF 20 trading credit with code «YUHMONEYLAND»

Swiss digital bank

Alpian

  • Multi-currency account with Visa card (CHF, EUR, USD, GBP)

  • Favorable foreign exchange rates

  • CHF 100 welcome bonus

Online private account

UBS key4

  • 50 KeyClub points as a welcome gift

  • Online private account with debit card

Swiss bank packages comparison

Find the best bank offer now

Compare now
Trading platforms

Brokers with low fees

Swiss Broker

FlowBank

  • Swiss online bank

  • No additional exchange charges

  • No transaction fees for Swiss equities

Swiss Broker

Saxo Bank Switzerland

  • Swiss online bank

  • Favorable prices stock trading

  • High account interest rates

Swiss Broker

Cornèrtrader

  • Swiss online bank

  • No custody fees for stocks

  • Free market research and trading signals

Request now for free

Leading credit cards

Free credit card

Swisscard Cashback Cards Amex

  • No annual fees

  • Two cards Amex & Visa/Mastercard

  • With cash back

Free credit card

Migros Cumulus Visa

  • No annual fees

  • With Cumulus points

  • Without foreign currency fees

Expert Benjamin Manz
Benjamin Manz is CEO of moneyland.ch and an independent expert on banking and finance.
Free subscription

Sign up for the free newsletter

Subscribe now
more than 3 million pieces of data

Find all comparisons here

Go to comparisons